According to Investopedia, “federal income tax is a tax levied by the United States Internal Revenue Service (IRS) on the annual earnings of individuals, corporations, trusts, and other legal entities. Federal income taxes are applied to all forms of earnings that make up a taxpayer’s […]
Ahmed Nashaat Business
Financial advice is everywhere.
It’s in the success story of the retiree who finally built her dream bakery. It’s in a family’s ability to fund an emergency, the kids’ college education, or their dream car. It’s in the cautionary tale of the Hollywood celebrity convicted for tax evasion, or the lottery winner who saw the multiple millions of winnings vanish into thin air.
Fast facts on money and financial management
The average American household with debt owes $132,529.
The average American’s 401(k) balance is $96,288.
The average personal savings rate is 5.5 percent, including retirement savings and emergency funds. It’s likely not to be enough for the average American.
Social security is a major source of retirement income for 61 percent of current retirees. But it’s often not enough and requires various cash flow sources once people stop earning a fixed salary.
Many people think that their high-paying job is their ticket to financial independence. Studies, however, show that high-earning professionals such as doctors are the least likely to amass notable wealth.
Nearly half of millennials aren’t saving for retirement. Their generation has a larger delinquency rate on their bills than all other ages, and they have the lowest credit scores as an age group.
Get on the road to financial freedom today
Wealth creation doesn’t happen overnight. It needs sound planning, robust management, and expert advice, whether in deciding which assets will grow best in value.
Ahmed Nashaat is an advocate for smart financial planning without useless forecasting or needless complexities. It offers financial management tips, success stories, famous case studies of tax and money issues, and empowering news and information for the regular American seeking to invest smart, retire early, live free, and build wealth without limits.
Financial advice is everywhere, yet it’s largely ignored and thought to be costly and a necessity for the rich alone. But nothing can be further from the truth.